[cryptica]

It will likely cause massive inflation but it may not cause much of an increase in CPI. I think economists ought to redefine inflation. CPI is not the same as inflation. CPI metrics have been thoroughly gamed decades ago and they're essentially meaningless.

Almost all of the monetary inflation these days shows up in the markets as inflated asset prices and does not show up in the CPI.

If you believe that bare sustenance of the working class is the only thing that matters, you could argue that this distinction is not significant... But growing wealth inequality is causing concentration of political power, distorting markets, regulating small businesses out of existence, creating useless corporate jobs, driving up rents, eroding privacy rights, eroding democracy, eroding freedom of speech, creating division (Milton Friedman even warned us about this in the 70s), encouraging unethical business practices (surveillance capitalism)... I think we're well beyond the point where we can sweep these problems under the carpet. They have become existential problems for society and they are caused by wealth inequality brought about by asset price inflation and accompanying stock buybacks (often paid for using interest-free printed credit from banks).

We live in a feudal society - But unfortunately for the plutocrats, they cannot use god's will as an excuse to justify their current position in society... The more time passes, the more people become aware of systematic cronyism, the more untenable the plutocrats' positions will be.